The following figures show the demand and cost curves of a perfectly competitive and a monopoly firm respectively. Figure 10.7
D: Average Revenue
AC: Average cost
MC: Marginal cost
MR: Marginal cost
Refer to Figure 10.7.If the perfectly competitive industry and the monopoly produces the same quantity, then:
A) there are 10 firms in the perfectly competitive industry.
B) there are 800 firms in the perfectly competitive industry.
C) there are 1, 000 firms in the perfectly competitive industry.
D) there are 2, 000 firms in the perfectly competitive industry.
E) there are 100 firms in the perfectly competitive industry.
Correct Answer:
Verified
Q47: To practice price discrimination,a firm:
A)must be facing
Q54: The table given below shows the prices
Q62: The figure below shows the market equilibrium
Q65: The figure below shows the market equilibrium
Q65: Perfect price discrimination occurs when:
A)each customer is
Q66: The following figures show the demand and
Q67: The figure below shows the market equilibrium
Q68: The following figure shows the revenue curves
Q69: The following table shows the marginal revenues
Q73: Compared with a perfectly competitive market with
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents